Earnest Partners LLC Cuts Stake in KeyCorp (KEY)

Earnest Partners LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,461,863 shares of the financial services provider’s stock after selling 74,454 shares during the period. Earnest Partners LLC owned approximately 0.23% of KeyCorp worth $46,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KEY. Vanguard Group Inc. boosted its stake in KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after acquiring an additional 4,230,390 shares in the last quarter. BlackRock Inc. boosted its stake in KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after acquiring an additional 2,280,450 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in KeyCorp by 3.9% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 17,011,141 shares of the financial services provider’s stock worth $302,458,000 after acquiring an additional 636,778 shares in the last quarter. Northern Trust Corp boosted its stake in KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after acquiring an additional 231,558 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in KeyCorp by 0.7% during the second quarter. Bessemer Group Inc. now owns 12,000,915 shares of the financial services provider’s stock worth $224,897,000 after acquiring an additional 87,019 shares in the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp (NYSE KEY) traded down 0.43% during trading on Friday, hitting $18.69. 11,723,605 shares of the company’s stock were exchanged. KeyCorp has a 12-month low of $12.20 and a 12-month high of $19.53. The company’s 50-day moving average price is $17.84 and its 200 day moving average price is $18.07. The firm has a market cap of $20.33 billion, a price-to-earnings ratio of 18.56 and a beta of 1.13.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 52.1% compared to the same quarter last year. Equities analysts forecast that KeyCorp will post $1.36 earnings per share for the current fiscal year.

KeyCorp announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $0.38 dividend on an annualized basis and a yield of 2.03%. KeyCorp’s dividend payout ratio is currently 38.78%.

Several research firms recently commented on KEY. DA Davidson raised shares of KeyCorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $21.00 in a research note on Thursday, July 20th. Morgan Stanley reissued an “overweight” rating and set a $22.00 price objective (up previously from $21.00) on shares of KeyCorp in a research note on Friday, July 7th. Keefe, Bruyette & Woods set a $20.00 price objective on shares of KeyCorp and gave the stock a “hold” rating in a research note on Saturday, June 24th. Jefferies Group LLC reissued a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research note on Friday, July 14th. Finally, BidaskClub raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.03.

ILLEGAL ACTIVITY NOTICE: This piece was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/08/earnest-partners-llc-cuts-stake-in-keycorp-key.html.

In related news, Director Ruth Ann M. Gillis purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $17.91 per share, with a total value of $35,820.00. Following the purchase, the director now owns 10,551 shares of the company’s stock, valued at $188,968.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Ann M. Gillis purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock wa

Several other institutional investors and hedge funds also recently made changes to their positions in KEY. Vanguard Group Inc. boosted its stake in KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after acquiring an additional 4,230,390 shares in the last quarter. BlackRock Inc. boosted its stake in KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after acquiring an additional 2,280,450 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in KeyCorp by 3.9% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 17,011,141 shares of the financial services provider’s stock worth $302,458,000 after acquiring an additional 636,778 shares in the last quarter. Northern Trust Corp boosted its stake in KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after acquiring an additional 231,558 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in KeyCorp by 0.7% during the second quarter. Bessemer Group Inc. now owns 12,000,915 shares of the financial services provider’s stock worth $224,897,000 after acquiring an additional 87,019 shares in the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp (NYSE KEY) traded down 0.43% during trading on Friday, hitting $18.69. 11,723,605 shares of the company’s stock were exchanged. KeyCorp has a 12-month low of $12.20 and a 12-month high of $19.53. The company’s 50-day moving average price is $17.84 and its 200 day moving average price is $18.07. The firm has a market cap of $20.33 billion, a price-to-earnings ratio of 18.56 and a beta of 1.13.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 52.1% compared to the same quarter last year. Equities analysts forecast that KeyCorp will post $1.36 earnings per share for the current fiscal year.

KeyCorp announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $0.38 dividend on an annualized basis and a yield of 2.03%. KeyCorp’s dividend payout ratio is currently 38.78%.

Several research firms recently commented on KEY. DA Davidson raised shares of KeyCorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $21.00 in a research note on Thursday, July 20th. Morgan Stanley reissued an “overweight” rating and set a $22.00 price objective (up previously from $21.00) on shares of KeyCorp in a research note on Friday, July 7th. Keefe, Bruyette & Woods set a $20.00 price objective on shares of KeyCorp and gave the stock a “hold” rating in a research note on Saturday, June 24th. Jefferies Group LLC reissued a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research note on Friday, July 14th. Finally, BidaskClub raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.03.

ILLEGAL ACTIVITY NOTICE: This piece was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/08/earnest-partners-llc-cuts-stake-in-keycorp-key.html.

In related news, Director Ruth Ann M. Gillis purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $17.91 per share, with a total value of $35,820.00. Following the purchase, the director now owns 10,551 shares of the company’s stock, valued at $188,968.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Ann M. Gillis purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average cost of $18.00 per share, for a total transaction of $54,000.00. Following the purchase, the director now directly owns 10,551 shares in the company, valued at approximately $189,918. The disclosure for this purchase can be found here. In the last three months, insiders purchased 16,000 shares of company stock worth $290,540 and sold 259,409 shares worth $4,794,449. 0.65% of the stock is currently owned by company insiders.

KeyCorp Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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